Coin Recap: Verge $XVG

Verge $XVG has really proved itself to be a convincing coin here at the end of 2017 early 2018.  I became interested in Verge when I first started to do research in the cryptocurrency world, but most people know Verge from its Wraith Protocol or its parabolic move from 12/16/2017-12/23/2017.   This move of +1000% turned many heads just like most altcoins did during this time.  Verge really dials in on the privacy and stealth features it can provide to companies and individuals.  I was fascinated by Verge for many reason and I wanted to go over what those reason are, along with some questions I still have about the coin myself.

Verge Team

Verge has an amazing development team that has some incredible individuals that do amazing work.  Justin Vendetta AKA Sunerok is the founder of Verge Currency and this was in 2014, he is also a Core Developer.  Sunerok has a variety of backgrounds containing decentralization and open-source technology, network security and blockchain.  @CryptoRekt created the Verge BlackPaper and is the Chief Marketing Officer.  Sasha is a very diverse individual with a creative background in IT, data science, investment banking etc. and he is the VP of operations.  Together, they have a goal to let everyday people living everyday lives bring blockchain transactions to everyday use.

Verge Development:

For anything you get invested into, you want to know what the plan is for the future or see a schedule.  Verge may not have a lengthy road map, but they sure have it really focused on small amounts with their per-quarter basis release schedule.  The original project started in the mid to late 2014 era, but was originally called Dogecoindark.  At first, this was purely a project to explore the realm of blockchain and its privacy features, but then they soon realized they needed to rebrand the project and turn it into something more professional then just a hobby.  That is when Verge was created.

q1Verge “Black” Paper v3.0 is the first checkmark on their Q1 Release Schedule.  This was created and written by @CryptoRekt and is an absolute amazing read.  If you haven’t glanced at the black paper, I suggest that you do so.  Verge uses two multiple annoymity-centric networks (Tor and I2P) which makes transactions untraceable because it obfuscates IP addresses.  It goes into great depth on Tor and I2P Integration and how those specific transactions occur.  A strong asset that Verge has is its multi-algorithm support, this can allow people with various mining devices to have equality with gaining/earning coins.  It has 5 has functions combined into one blockchain, and this means that it has an increase in security and makes sure Verge is distributed equally.

Wraith Protocol was released in the end of 2017 early 2018 and had some results that might be considered concerning.  What this protocol does is allows you to choose between a public or private ledger.  For example, when Wraith Protocol is turned on, the transaction data is hidden. If it is turned off where transparency is required, making all transaction data visible on the public ledger.

One of the main reasons I am still holding this coin is because of the RSK Smart Contracts set to release this quarter.  RSK stands for Rootstock and it’s a binary matching side chain that grafts a smart contract onto Verge Network.  In addiction, its beginning an off-chain protocol for instant payments.  Adding more security and accessibility.

Technical Analysis:


On the 1 hour timeframe I really like the large bull flag that has formed.  The MAIN concern for me is volume.  As you can see it really has completely diminished and we need volume if we want to go anywhere.  We know what the coin is capable of and honestly looking at this trend I don’t see it going anywhere but up.  Volume faded, and it consolidated nicely.  Now we just wait for some new, volume and a run up.

Initial Concerns:

I think that Verge has some great technology behind it and also some good news coming in the future but right now I wanted to touch on some of my concerns I have.

1) Volume.  As you can see the volume on XVG has completely diminished, in fact it is one of lowest traded coins on Binance.  This is obviously not ideal, and if we want to see Verge really get some steam to break those highs, we need volume or “hype” so we can get this coin moving again.  I’m still not completely convinced with its TA at the moment but I do think its possible for a reversal to come with some future news Verge is planning to release.

2)  John McAfee.  There was an on going battle between McAfee and Verge, or I should saw @XVGWhale via Twitter.  Messages were leaked and caused all sorts of FUD in the Verge community.  Here is a YouTube video that will break down what happened.




In the end, it’s all speculation.  To me John McAfee isn’t someone that I really enjoy learning from, I think he is an absolute genius with what he has accomplished both in the stock market and crypto market.  When it comes down to it, I wont sell a coin because of what someone said, I make my own plan and own decisions.

3) Wraith Protocol.  As much as everyone wanted this to be the reason this coin hit new highs, it just wasn’t.  I don’t believe that it was a complete disaster but it defiantly didn’t reach my expectations.  For a lot of investors, they lost trust and with some of the subpar communication from the Verge team, they really need to step up with future plans like its I2P Android Wallet and RSK Smart Contracts.

Final Analysis:

I am holding a very small amount of Verge, but its a very small and speculative play.  I think that some of the development and technology powering this coin can be groundbreaking.  On the other hand, we have continued to see deadlines being pushed back and FUD from the community so we will have to see what happens the rest of the year.  With how everyone reacted with Wraith Protocol, the RSK Smart Contracts are what is keeping me invested in this coin.  If that is another fail it might be time for me to abandon ship on this altcoin but for now I do like its TA and what it has created thus far.

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